Worldcoin Token Set to Rise By 80%, Bull Flag Appears on 4 Hours Chart 

Worldcoin Token Set to Rise By 80%, Bull Flag Appears on 4 Hours Chart 

Market analysts predict that Worldcoin’s native token, WLD, could rise by 80% as a bull flag pattern appears on the 4-hour chart. After the cryptocurrency recently came out of beta, a brief price spike caused investors to take profits. But now that technical indicators indicate a bullish continuation, investors feel more optimistic.

It was gathered that Worldcoin’s technical analysis usually indicates an uptrend that will continue. It is typified by a breakout to the upside after a rectangular-shaped consolidation or retracement that frequently slopes against the dominant trend. Analysts see this pattern as a possible indicator of future price gains.

Worldcoin Establishes Strong Support, As Prominent Names Get Involved 

Worldcoin has established a strong support level, forming the lower boundary of the bull flag. On July 24, 2023, Worldcoin, a cryptocurrency project that attracted attention for its audacious plan to provide cryptocurrency to every person on Earth, came out of beta.

The project deployed coin distribution devices at 11 orb locations across the United States to make it easier for users to receive WLD tokens. To demonstrate its dedication to widespread adoption, Worldcoin announced plans to grow to 35 cities in 20 different countries. Worldcoin has gotten the attention of many individuals and businesses.

Some of the names mentioned are include Andreessen Horowitz, Reid Hoffman, Khosla Ventures, and many more. In October 2021, the Worldcoin project secured $25 million in funding, an extra $100 million in less than one year, pushing the token’s value to  $3 billion. 

CEO, Toniq Labs Talks on Flaws Seen on Worldcoin Verification 

The expansion plans and the move out of beta have given WLD’s price potential an additional layer of fundamental support. Although the recent correction in WLD resulted in a period of consolidation, the appearance of the bull flag pattern raises the possibility that the upward trend will resume.

The upper boundary of the flag is being watched closely by technical analysts at a critical level; a breakout there would suggest a high probability of a large price increase. The CryptoPotato platform recently interviewed Bob Bodily, the CEO of Toniq Labs, a web3 company.

In the interview, Bob Bodily spoke on the many safe methods the company has adopted to confirm human identity, thus rendering the Worldcoin verification method obsolete. Bob pointed out many downsides in the Worldcoin verification process and hinted at its centralization. He pointed out that users are often restricted to getting validated via official hardware specially designed by Worldcoin. 

Ali Martinez Comments Speaks, Predicts Future Boom Market for Worldcoin 

WLD has experienced significant volatility and profit-taking in its recent price action, which has resulted in a 20% decrease from its peak of $4.68 in less than ten days. In his statement, the popular cryptocurrency analyst Ali Martinez says that Worldcoin is showing signs of a boom.

Martinez, on his official X handle, said this will emerge from a bull flag on its 4-hour chart. This has the propensity to open the gate for the Worldcoin token to commence its 80% bull run, aiming for the $6.30 price mark. However, Worldcoin’s upward movement looks exhausted already, paving the way for a massive Profit-taking activity. Observation shows that this has led to a decline of 20% in 10 days.

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Jesse Rosenbalm
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Jesse Rosenbalm

Jesse Rosenbalm stands out in the crypto journalism realm, seamlessly blending intricate blockchain concepts with accessible prose. Known for his deep dives and accurate forecasting, Jesse's articles are a must-read for both novices and experts. As crypto trends shift, his insightful writings remain a beacon in the digital currency space.

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